Biotech Startup M-Based Secures Pre-Seed Funding for Eco-Friendly Vegan Leather Production

Biotech startup M-Based has secured pre-seed funding from Hatcher+, Sente Ventures, and Fark Labs. The financial terms of the investment remain undisclosed.

M-Based, a local biotechnology company, is pioneering an eco-friendly alternative to traditional animal and petroleum-based artificial leather. Their innovative mushroom-based vegan leather is designed for use in the fashion, automotive, and furniture industries. Committed to environmental and ecological sustainability, M-Based aims to reduce carbon emissions and water consumption significantly.

The startup's unique material is derived from mycelium, the network-like structure of mushrooms. This not only minimizes waste but also helps prevent biodiversity loss.

Görkem Gökoğlu, M-Based’s co-founder and CEO, emphasized the investment’s impact on the company's expansion and research and development efforts. "This funding will enable us to enhance and market our mycelium-based vegan leather technology. With Fark Labs' support, we aim to boost our growth in the sector and promote the adoption of sustainable textiles and eco-friendly materials," he said.

Ahu Serter, founder of Fark Labs, praised M-Based’s innovative approach. "Future-shaping innovations hinge on environmentally friendly and sustainable solutions. M-Based’s mushroom-based vegan leather exemplifies this vision. This technology, which reduces environmental impacts while addressing industry needs, has the potential to drive global change. I am thrilled to collaborate with M-Based and contribute to this transformation," she stated.

Source: Ezgi Collar / Swipeline